GAMMA Investing LLC Has $321,000 Stake in DTE Energy (NYSE:DTE)

GAMMA Investing LLC grew its holdings in DTE Energy (NYSE:DTE) by 25.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,861 shares of the utilities provider’s stock after purchasing an additional 573 shares during the quarter. GAMMA Investing LLC’s holdings in DTE Energy were worth $321,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Capital Research Global Investors raised its holdings in shares of DTE Energy by 1.9% in the fourth quarter. Capital Research Global Investors now owns 20,933,030 shares of the utilities provider’s stock valued at $2,308,076,000 after buying an additional 399,646 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of DTE Energy by 16.4% in the third quarter. Ameriprise Financial Inc. now owns 5,130,348 shares of the utilities provider’s stock valued at $509,081,000 after purchasing an additional 724,561 shares in the last quarter. Boston Partners raised its position in DTE Energy by 66.8% in the 4th quarter. Boston Partners now owns 2,542,081 shares of the utilities provider’s stock worth $280,247,000 after purchasing an additional 1,018,212 shares during the last quarter. Invesco Ltd. lifted its holdings in DTE Energy by 6.6% during the 3rd quarter. Invesco Ltd. now owns 2,229,189 shares of the utilities provider’s stock worth $221,314,000 after buying an additional 137,960 shares in the last quarter. Finally, Northern Trust Corp boosted its position in DTE Energy by 1.5% in the 3rd quarter. Northern Trust Corp now owns 1,923,222 shares of the utilities provider’s stock valued at $190,937,000 after buying an additional 27,891 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Stock Performance

Shares of DTE stock opened at $110.57 on Thursday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.54 and a current ratio of 0.75. DTE Energy has a 52 week low of $90.14 and a 52 week high of $117.44. The company’s 50 day moving average price is $112.23 and its two-hundred day moving average price is $109.81. The company has a market capitalization of $22.88 billion, a P/E ratio of 18.10, a price-to-earnings-growth ratio of 2.01 and a beta of 0.67.

DTE Energy (NYSE:DTE) last released its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.04). The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.81 billion. DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. On average, analysts expect that DTE Energy will post 6.7 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be paid a dividend of $1.02 per share. The ex-dividend date is Monday, June 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.69%. DTE Energy’s dividend payout ratio is currently 66.78%.

Insider Activity

In related news, COO Mark W. Stiers sold 10,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $116.00, for a total transaction of $1,160,000.00. Following the completion of the transaction, the chief operating officer now owns 41,921 shares in the company, valued at $4,862,836. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other DTE Energy news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total transaction of $402,745.00. Following the transaction, the insider now owns 59,475 shares of the company’s stock, valued at approximately $6,843,788.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mark W. Stiers sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the sale, the chief operating officer now directly owns 41,921 shares of the company’s stock, valued at approximately $4,862,836. The disclosure for this sale can be found here. Insiders have sold 14,698 shares of company stock worth $1,702,444 over the last ninety days. Insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DTE. JPMorgan Chase & Co. upped their price target on DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. BMO Capital Markets upped their target price on shares of DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a research report on Wednesday, April 17th. KeyCorp raised their price target on DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. TheStreet upgraded DTE Energy from a “c+” rating to a “b-” rating in a report on Friday, March 15th. Finally, Scotiabank reduced their target price on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, DTE Energy presently has an average rating of “Hold” and a consensus target price of $115.44.

DTE Energy Company Profile

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.